The most crucial issue facing today`s business leaders is the decreasing profitability of the local market. This was the finding of a "dipstick" survey conducted by Bateleur Financial Services amongst managing and financial directors in South African insurance, banking and financial services sectors. Bateleur is the local distributor for Walker, a US company providing "Smart Financial" computer systems to many South African businesses. The survey showed that, given the increasing high cost of doing business in South Africa, the need for cost efficiency is absolutely crucial. Further, it showed that managing change on national and global levels, handling crime and fraud, employing and keeping well-skilled people, and the Rand`s behavior on foreign currency markets are also vital to business success today. Bateleur conducted the dipstick survey to provide visiting Walker executives with confirmation that financial executives in South Africa face much the same challenges as their counterparts overseas. The spot survey also asked respondents what change in economic conditions had affected their business strategy the most. Here, the unanimous response was competing on the "global stage" (as South Africa entered the international market place). This increased global competition did not only apply to companies exporting products or services, but to all companies because competition from international brands in local markets had increased the complexity of strategic decision making. Respondents rated the financial director`s role as "critical" - not only as a financial watchdog to call out problems in good times - though this was felt to be a key role, but also as a key advisory member of the strategic planning team. Bateleur plans to formalise these findings by conducting more in-depth research during this year. This commitment to understanding and researching the issues affecting its clients is in line with that promoted by Walker in the United States. Walker has recognised that a crucial and mobile area in the finance function is that of credit, and has implemented plans to raise awareness of credit issues in the States. Walker has acted jointly with the Credit Research Foundation (CRF) of Columbia, a non-profit organisation affiliated with the National Association of Credit Management, to research and benchmark the credit market. CRF is dedicated to providing the credit community with education and research support in order to evaluate and drive trends in the credit industry. The foundation gives lengthy, quarterly forums at which they educate and solicit new information. They also regularly report on credit metrics including bad debt and benchmark costs, while staying closely tuned to the credit/AR field. Walker has worked with Credit Research Foundation on projects, including "Leading the Journey from Isolation to Integration: The Future of Credit", a recent "super session" at NACM`s convention this year. Copies of this are available from Bateleur`s Johannesburg office. The most recent joint effort is a CRF white paper titled "The Future of Business Credit", written by the research project team. "The Future of Business Credit" investigates the role of business credit 10 years into the future. More than 500 credit and financial executives from small, medium and large companies were interviewed to define where business credit is today and to identify trends that will have a significant impact on the financial professional role of the future. Bateleur is the local distributor of applications from Walker, a leading provider of premier financial software solutions for large and medium-size enterprises. Walker`s current customers include more than 450 Fortune 1000-class companies across a range of industries including utilities, oil & gas, transportation, manufacturing, retail, financial services, insurance and consumer products. By integrating financial and analytical applications, Walker Smart Financials provide unique value to the enterprise, linking strategic goals to operational activities through the use of Key Performance Indicators (KPI`s), so that companies can better manage their business for success and growth. The Walker Enterprise Series includes the Tamaris C/S financial suite and the Business Framework series, the only client/server financial suite running native in the IBM OS390/CICS/DB2 Parallel Sysplex environment as well as the Aptos financial suite for Unix and Windows NT environments. These products include general ledger, fixed asset, project cost management, accounts payable, billings, accounts receivable, purchase order, cash management and inventory management. The Business Framework series offers planning, forecasting, financial consolidation and management reporting and analysis across the enterprise.
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